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Lender Liquidity Narrows in May

Banking

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Forint liquidity of the domestic banking sector decreased in May, indicated by a decline in lenders' current account deposits that exceeded the increase in the stock of central bank bills, the National Bank of Hungary (MNB) said in a monthly release of data on Friday, according to a report by state news wire MTI.

Credit institutions' average current account balances fell by HUF 209 bln to HUF 10.39 tln, while the average stock of MNB bills rose by HUF 121 bln to HUF 4.639 tln.

The monthly average reserve account balance reached HUF 10.54 tln in May, falling from HUF 10.754 tln in the previous month. The reserve requirement was HUF 3.96 tln during the month

MNB phased out its O/N deposits offered at quick tenders last October, making reserve accounts the main instrument for sterilizing liquidity.

The average stock of currency in circulation stood at HUF 8.452 tln in May, rising HUF 53 bln from the previous month.

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